TPG sells 10% stake in Shriram Transport Finance for Rs 1600 crore

TPG Capital, which held its stake in Shriram Transport Finance Company through Newbridge India Investment Ltd, sold 2.26 crore shares (amounting to 9.98 per cent stake) in the firm, as per data available with stock exchanges. The shares were sold on an average price of Rs 715.15 valuing the deal size at Rs 1,612 crore, data showed.

TPG Capital, which held its stake in Shriram Transport Finance Company through Newbridge India Investment Ltd, sold 2.26 crore shares (amounting to 9.98 per cent stake) in the firm, as per data available with stock exchanges.

The shares were sold on an average price of Rs 715.15 valuing the deal size at Rs 1,612 crore, data showed.

As of December quarter, TPG Capital through Newbridge held 20.28 per cent stake in Shriram Transport Finance. Earlier this month, private equity firm Apax Partners had offloaded 63.85 lakh shares of Apollo Hospitals Enterprise for about Rs 530 crore.

In 2005, TPG had reportedly invested USD 100 million for 49 per cent in Shriran Holding (Madras) in which the Chennai-based Shriram Group holds the remaining 51 per cent.